. Low Income Apartments For Rent in Maxwell, New Mexico - Affordable Housing Online

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522 Parque Ave

522 Parque Ave
Maxwell, New Mexico
Public Housing
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There are 0 low-income apartments in Maxwell that offer reduced rents to eligible households.

Rental assistance programs support 23 low-income homes in Maxwell where households pay rent based on how much they earn.

Affordable rent data for some communities last confirmed on October 9th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Maxwell, New Mexico

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority Programs
Northern Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH)
Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Maxwell.

Maxwell, New Mexico Affordable Housing Data

Income Based Apartments in Maxwell, New Mexico

Maxwell features 23 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Maxwell, New Mexico

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Maxwell.

Housing Choice Vouchers in Maxwell, New Mexico

On average, Section 8 Housing Choice vouchers pay Maxwell landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Maxwell.

The maximum amount a voucher would pay on behalf of a low-income tenant in Maxwell, New Mexico for a two-bedroom apartment is between $716 and $875.

2023 Maxwell, New Mexico Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Maxwell, New Mexico Fair Market Rent $582 $704 $795 $968 $1,088
Maxwell, New Mexico Payment Standard Range $524 to $640 $634 to $774 $716 to $875 $871 to $1,065 $979 to $1,197

Sourced from federal housing data and AffordableHousingOnline.com research.

Maxwell, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 23
Total Housing Units with Rental Assistance 23
Percentage of Housing Units Occupied By Renters 34.48%
Average Renter Household Size 1.73
Average Household Size 1.57
Median Household Income $19,250 ±$11,012
Median Rent $425 ±$121
Percentage Of Renters Overburdened 46.67% ± 48.54pp
Total Population 137

Population and Household Demographics

Maxwell is a city in Colfax County, New Mexico with a population of 137. There are 87 households in the city with an average household size of 1.57 persons. 34.48% of households in Maxwell are renters.

Income and Rent Overburden in Maxwell

The median gross income for households in Maxwell is $19,250 a year, or $1,604 a month. The median rent for the city is $425 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Maxwell, a household making less than $1,417 a month would be considered overburdened when renting an apartment at or above the median rent. 46.67% of households who rent are overburdened in Maxwell.

Area Median Income In Maxwell

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Maxwell, the AMI is calculated from all households within Colfax County.

In Maxwell, HUD calculates the Area Median Income for a family of four as $60,500

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Maxwell

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Maxwell

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Maxwell AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $34,900 $37,500 $40,100 $42,650
50% AMI Income Limits
Renters earning up to 50% of the Maxwell AMI may qualify for rental assistance programs that target Very Low Income households.
$22,650 $25,850 $29,100 $32,300 $34,900 $37,500 $40,100 $42,650
80% AMI Income Limits
Renters earning up to 80% of the Maxwell AMI may qualify for rental assistance programs that target Low Income households.
$36,200 $41,350 $46,500 $51,650 $55,800 $59,950 $64,050 $68,200